Summit X LLC Buys 87 Shares of Johnson & Johnson (NYSE:JNJ)

Summit X LLC raised its stake in Johnson & Johnson (NYSE:JNJ) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 5,153 shares of the company’s stock after acquiring an additional 87 shares during the quarter. Summit X LLC’s holdings in Johnson & Johnson were worth $745,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JNJ. Raymond James Financial Inc. bought a new stake in Johnson & Johnson in the fourth quarter valued at $1,339,878,000. Janus Henderson Group PLC increased its stake in Johnson & Johnson by 228.1% in the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares in the last quarter. Franklin Resources Inc. increased its stake in Johnson & Johnson by 11.4% in the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock valued at $2,721,355,000 after purchasing an additional 1,729,281 shares in the last quarter. Amundi increased its position in shares of Johnson & Johnson by 16.2% during the fourth quarter. Amundi now owns 11,930,183 shares of the company’s stock worth $1,698,984,000 after acquiring an additional 1,660,458 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Johnson & Johnson during the third quarter worth about $225,040,000. 69.55% of the stock is owned by institutional investors.

Johnson & Johnson Stock Down 1.1 %

JNJ opened at $165.86 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.11 and a debt-to-equity ratio of 0.43. The stock has a market cap of $399.33 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.56 and a beta of 0.47. Johnson & Johnson has a twelve month low of $140.68 and a twelve month high of $169.99. The company’s 50-day moving average price is $153.86 and its two-hundred day moving average price is $156.29.

Johnson & Johnson (NYSE:JNJ) last released its earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.05. The firm had revenue of $22.52 billion for the quarter, compared to analysts’ expectations of $22.44 billion. Johnson & Johnson had a net margin of 18.20% and a return on equity of 34.24%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share. As a group, equities analysts expect that Johnson & Johnson will post 10.58 earnings per share for the current year.

Johnson & Johnson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Tuesday, February 18th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, February 18th. Johnson & Johnson’s payout ratio is currently 74.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JNJ. Wolfe Research began coverage on shares of Johnson & Johnson in a research report on Friday, November 15th. They set an “outperform” rating and a $190.00 target price for the company. Leerink Partners decreased their target price on shares of Johnson & Johnson from $182.00 to $169.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. StockNews.com raised shares of Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 25th. Bank of America boosted their target price on shares of Johnson & Johnson from $159.00 to $171.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 5th. Finally, Guggenheim reissued a “neutral” rating on shares of Johnson & Johnson in a research report on Monday. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $171.33.

Insider Activity at Johnson & Johnson

In related news, VP Robert J. Decker sold 6,999 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $165.88, for a total transaction of $1,160,994.12. Following the sale, the vice president now directly owns 21,001 shares in the company, valued at approximately $3,483,645.88. This represents a 25.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Weinberger bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $147.22 per share, for a total transaction of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at $147,220. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.16% of the stock is currently owned by corporate insiders.

Johnson & Johnson Profile

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.